Textbook Falling Wedge Breakout Means Tesla Puts?

Mar 18, 2022

Wow this falling wedge was textbook, but just scraping by the minimum 3 month timeframe. According to textbook would retrace to target B, or roughly 15K, +4% from here over a relatively short amount of time. However, many falling wedges do retrace the breakout rather quickly in the 2nd week after. After all, the markets don't go straight up do they? Lately we have been trading in a news cycle, aka "China Trade Deals Signal New Developments 2018 style." Except now we have several developments: Inflation Fears, Russian War, New China Trade War, Fed FUD, and maybe just a bit of covid still with us. (how? idk, ask China). I played E to top of channel and missed entire breakout but it was such a large move I could not not take profits. I rolled all the profits into April TSLA 900p EOD today. I am not trusting the 'textbook move.' Be your own judge, still lots of upside, and my leaps in my IRA would appreciate a 4% gain in Nasdaq. GL.